Ambassadors of the European Union have practically agreed on the 18th package of sanctions against Russia, which will include a reduction in the price cap for Russian oil. Four EU sources told Reuters about this after Sunday's meeting, UNN reports.
Details
According to their information, all elements of the package have been agreed upon, although one EU member state still has a technical reservation regarding the new price cap.
Sources ... said they expected a final agreement to be reached on Monday, before a meeting of foreign ministers in Brussels the next day, where the package could be officially approved
Slovakia still blocks 18th EU sanctions package against Russia - media09.07.25, 15:27 • [views_1859]
Sources said that the EU also agreed on a "dynamic mechanism" for pricing to limit the price of Russian oil.
One source said the initial price would be around $47 per barrel, based on the average price of Russian crude oil over the past 22 weeks minus 15%. In addition, the price will be reviewed based on the average oil price every six months instead of the proposed three months
In addition, sources clarified that Slovakia, which had delayed the adoption of the proposed package, is still awaiting assurances from the European Commission regarding its concerns about plans to gradually cease Russian gas supplies, but has "agreed to new measures."
Recall
On June 30, the European Union officially agreed to extend sectoral sanctions against Russia.
EU's chief diplomat Kaja Kallas stated that Brussels is preparing to adopt the 18th package of sanctions against Moscow, and "we are still in negotiations on setting an oil price cap that will deprive Russia of funds to finance this war."